Markets Show Mixed Reactions Amid Earnings and Economic Data

The S&P 500 and Nasdaq ended unchanged, while the Dow reached a record high as investors analyzed mixed earnings and economic data. Technology stocks led by TSMC outperformed, while European shares benefited from the ECB rate cut. Gold reached a record high amid election uncertainties.

On Thursday, the S&P 500 and the Nasdaq closed essentially unchanged, while the Dow Jones Industrial Average notched a record closing high. Investors digested a mix of quarterly earnings and economic reports, with gold reaching a record high due to election-related uncertainty.

Technology shares outperformed, driven by Taiwan Semiconductor Manufacturing's positive earnings and revenue forecast, alleviating fears of an AI-related semiconductor slowdown. Michael Green from Simplify Asset Management emphasized semiconductor leadership and retail sales data as factors pushing major indices higher.

European shares rose as the ECB's 25-basis-point rate cut aimed to shore up the EU economy. The dollar strengthened after strong U.S. retail sales data, while crude oil prices slightly increased. Gold prices also hit a record high as rate cut expectations and presidential election uncertainties loomed.

(With inputs from agencies.)